In her latest FREE article on saltmoney.org, international wealth planning expert Elaine King outlines a four-step plan to figure out which of your financial areas may need a “checkup.” Check out this excerpt, and click through the view the complete text (in English and Spanish).
At my last annual checkup, my doctor asked me a series of questions and ran through a list of tests. My levels were well, but there have been years when they weren’t—and I had to follow a plan to improve them. Learning what goes into that plan helped me improve my future outcome.
Similarly, everyone needs an annual financial checkup. But instead of checking your cholesterol and pressure at the doctor’s office, you should be evaluating how you budget your money and manage your debt levels, among other things. After an evaluation, you’ll want to create a long-term plan, because unlike a health test, a financial test develops with time.
So, how do you figure out which financial areas to include in your next checkup and which need improvement?
SALT™ is a free educational resource that provides simple, smart, personalized ways for college students and recent graduates to take control of their student debt and manage their finances. With a combination of helpful tools, tailored information, and unbiased expertise, SALT helps young people borrow less, borrow smart, and repay their loans in a way that works for them. SALT was created by American Student Assistance, a nonprofit organization with 50+ years of experience helping people make better decisions about financing their education and repaying student loans. Visit saltmoney.org for more information.